INNOVATIVE INDUSTRIAL PROPERTIES INC
For the period ended Mar 31, 2026. Filed May 5, 2026.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2026 · Filed May 5, 2026
IIPR$55.54+1.3%Stored close · as of Nov 9, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Consolidated Balance Sheets
(In thousands, except share and per share amounts)
| March 31, | December 31, | |
|---|---|---|
| Assets | 2026 | 2025 |
| Real estate, at cost: | ||
| Land | $145,104 | $146,320 |
| Buildings and improvements | 2,269,439 | 2,269,597 |
| Construction in progress | 40,311 | 40,593 |
| Total real estate, at cost | 2,454,854 | 2,456,510 |
| Less accumulated depreciation | (361,093) | (343,062) |
| Net real estate held for investment | 2,093,761 | 2,113,448 |
| Life science investments | 153,980 | 152,665 |
| Construction loan receivable | 22,800 | 22,800 |
| Cash and cash equivalents | 89,117 | 47,597 |
| In-place lease intangible assets, net | 6,155 | 6,366 |
| Other assets, net | 28,167 | 27,982 |
| Total assets | $2,393,980 | $2,370,858 |
| Liabilities and stockholders’ equity | ||
| Liabilities: | ||
| Notes due 2026, net | $290,981 | $290,602 |
| Revolving credit facilities | 75,000 | 102,500 |
| Building improvements and construction funding payable | 851 | 2,964 |
| Accounts payable and accrued expenses | 14,702 | 10,870 |
| Dividends payable | 57,100 | 54,913 |
| Rent received in advance and tenant security deposits | 50,060 | 50,307 |
| Other liabilities | 10,746 | 10,698 |
| Total liabilities | 499,440 | 522,854 |
| Commitments and contingencies (Notes 6, 7 and 12) | ||
| Stockholders’ equity: | ||
| Preferred stock, par value $0.001 per share, 50,000,000 shares authorized: 9.00% Series A cumulative redeemable preferred stock, liquidation preference of $25.00 per share, 4,718,048 and 2,019,525 shares issued and outstanding at March 31, 2026 and December 31, 2025, respectively | 108,081 | 47,780 |
| Common stock, par value $0.001 per share, 50,000,000 shares authorized: 28,314,520 and 28,022,975 shares issued and outstanding at March 31, 2026 and December 31, 2025, respectively | 28 | 28 |
| Additional paid-in capital | 2,123,710 | 2,113,184 |
| Dividends in excess of earnings | (337,279) | (312,988) |
| Total stockholders’ equity | 1,894,540 | 1,848,004 |
| Total liabilities and stockholders’ equity | $2,393,980 | $2,370,858 |
See the accompanying notes to the consolidated financial statements.
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